english - About Heraeus

Foreign currency gains and losses from hedged receivables and liabilities are offset and
reported either in other operating expenses or other operating income, depending on the
balance.
The exchange rates for major currencies used for currency translation varied as follows in
relation to the euro:
ClosinG Rate aVeRaGe Rate
1 EUR = 2012 2011 2012 2011
China CNY 8.2207 8.1588 8.1094 8.9959
United Kingdom GBP 0.8161 0.8353 0.8111 0.8677
Hong Kong HKD 10.2260 10.0510 9.9726 10.8337
Japan JPY 113.61 100.20 102.62 111.02
Canada CAD 1.3137 1.3215 1.2848 1.3757
Korea KRW 1,406.23 1,498.69 1,448.20 1,541.11
Switzerland CHF 1.2072 1.2156 1.2053 1.2340
USA USD 1.3194 1.2939 1.2856 1.3917
Use of estimates and assumptions in the preparation of the consolidated financial statements
The amount of assets, debts, and provisions, contingent liabilities, and other financial
commitments reported in the consolidated financial statements depends on the use of
estimates and assumptions. These are based on the status and evaluations on the balance
sheet date and, insofar, affect the amount of the reported income and expenses. The
basic assumptions and parameters for the estimates are based on the current state of
knowledge and available data and are explained in the notes and refer to impairments
of non-current assets, financial instruments, the assessed value of deferred tax assets on
loss carryforwards, provisions and goodwill. Any uncertainty that exists is taken into
appropriate account in the determination of the value; however, actual results may still
deviate from the estimates.
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